Food & Beverage
We are pleased to announce that Dr. Oetker, the German Food company, has completed the successful acquisition of a 70% stake in Nona, the Malaysian baking mixes and ingredients company.
This originated from the relationship between Spayne Lindsay and Dr. Oetker and was a result of an introduction to Spayne Lindsay’s Singaporean partner firm, Pickering Pacific, who acted as financial advisor to Dr. Oetker on this transaction.
Nona is based in Penang, Malaysia and produces baking mixes, dessert mixes and other products and ingredients for the preparation of desserts including jellies and baking products. The seller is the Penang-based Torto Group owned by local businessman Ang Aik Hwa. The seller has retained a 30% stake in what will now be a joint venture company, named Dr. Oetker Nona.
Pickering Pacific is a Singapore-based M&A advisory firm which advises clients throughout East Asia (Southeast Asia & Greater China). Further information can be found at www.pickeringpacific.com.